11 January 2017
DETAILS
SABIC reported today consolidated financial results
for the quarter and year ended December 31, 2016.
Net profit for the year was SR 17.91 billion
as compared to SR 18.77 billion for 2015,
a decrease of 4.58 percent.
Net profit for the fourth quarter amounted to
SR 4.55 billion compared to SR 3.08 billion
for the same quarter in 2015,
an increase of 47.73 percent,
and compared to net profit of SR 5.22 billion
for the preceding quarter,
a decrease of 12.84 percent.
Yousef Al-Benyan
SABIC Vice Chairman and CEO
“SABIC has performed admirably this year
in the face of unusual market conditions
and has the financial strength and robust strategy
to take advantage of opportunities
that emerge during economic uncertainty.
SABIC is achieving sustainable growth, including
expansion of capacity at existing facilities,
and investments in new industrial facilities
around the world.”
SABIC's global business is expanding
due to envisaged major new joint projects
with leading companies, such as
* Saudi Aramco in Saudi Arabia,
* ExxonMobil in the USA, and
* Shenhua Ningxia Coal Industry Group in China.
All these efforts are aimed at achieving
SABIC’s growth strategy, continuing to serve
our customers closely, and
sharing advanced technologies
with these leading partners.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
